To: Michael Green, Superintendent
From: Stacy Brown, Director of Business Services
Date: January 17, 2018
Subject: December Financial/Enrollment Report
I have attached the 2017-18 Budget Vs Actual and Comparisons to 16-17 for September through December (page 1 & 2). Also attached are the December Budget Status Reports for all funds (pages 3-7). I had hoped to have the January apportionment numbers before the board reports were due, but because the 4th Monday is early this month, I do not yet have that information. Once I have actual apportionment figures (based on actual enrollment, actual teacher education and experience and actual transportation allocation) I will be able to be more confident in the projected revenues for the year. I have been working on projected expenditures and will have projected ending fund balance next month with the January financial information. The January Enrollment Spreadsheets are attached as well (8-10).
Budget vs Actual Comparisons for December
Revenues in September were $63,000 less than expected (page 1). Average property tax collections in December over the past 3 years were $83,000, but in December 2017 only $43,000 was collected. In two of the last 3 years, we billed Green Mountain School District for the non-high tax revenues owed to the district, which averages about $6,500. Thanks to Jody’s knowledge of the district and addresses that are in Green Mountain we have almost tripled the amount we will be receiving from Green Mountain this year. We billed almost $22,000 in November. We have also changed the process for recording food service receipts, which has made this revenue stream much more consistent from month to month. Over the past 3 years, the average recorded for food service was approximately $32,000 (which is much more than 1 month of receipts). This December, we recorded about $14,000 which is about normal for this time of year.
December payroll was about $89,000 greater than expected. I am working on the reasons for the big difference. I compared budgeted versus actual number of FTE for certificated and classified staff. We are currently paying 1.12 more certificated FTE than what was budgeted (due to having one KG teacher that is on administrative leave). With salary and benefits, this accounts for about $5,500 per month. I compared budgeted classified staff to actual staff, and the number of staff FTE is in line with budget. I also compared budgeted average teacher salary (based on the LEAP schedule) with actual average teacher salary. The actual average is a bit higher than what was budgeted, resulting in approximately $5,000 greater certificated salaries per month. This month there were also a number of salary categories that were greater than the past 3 years’ average. This included certificated and classified subs ($8,000), teacher optional time ($34,000) and classified overtime ($3,000). I did budget a bit tighter this year and did not build as much capacity in salary and benefits as I usually do. I will be digging deeper into salary and benefits as I am projecting ending fund balance. I will update on payroll information in January.
December accounts payable was approximately $10,000 less than expected (page 1). As usual, I reviewed all expenditures and the amounts paid do not look unusual.
The enrollment spreadsheets are also attached (pages 8-10), with summaries by headcount for September through January and a comparison of budgeted FTE to actual average FTE. Headcount enrollment increased by 4 students and increased by 3.0 FTE. The average FTE is still 52.77 students greater budget. I will continue to keep you apprised each month and will let you know how this affects the district projections starting with January financial data in February.
Please let me know if you have any questions.